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[quote=OTAlexFA][quote=Anonymous]What do you of financial advisors that are paid an hourly fee?  I'm comfortable making financial decisions on my own, but want an expert to spend time with me validating and/or challenging my choices.

No way I am paying somebody a 1% AUM fee.  That's thousands a year.[/quote]

By financial decisions, do you mean the holdings in your portfolio, as well as when to buy/sell?  If we can presume that's what you're implying, then it depends on your activity.  If you're very active or have an elaborate portfolio, the 1% or whatever the charge is may make sense because that should cover account and transaction fees, too.  The amount of trades and quarterly or semi-annual rebalancing, combined with the justification of those choices all wrapped up in the fee, may work itself out.

If you're more of a set-and-forget, the 1% makes ZERO sense.  Also, how often are you meeting with this hourly advisor?  It's all cost analysis.  Not to mention, with the AUM fee, you should just get on-demand access to your advisor instead of having to set meetings.  Again, all depends on your activity within the account(s).[/quote]

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